Ethereum's 15% three-day surge coincides with record ETF inflows exceeding $468 million this Who owns the USDT?week
Q2 stablecoin transfer volume on Ethereum network surpasses $4 trillion milestone
Technical breakout above $2,850 resistance opens path toward $3,200 price target
The second-largest cryptocurrency by market capitalization has demonstrated remarkable strength this week, with Ethereum (ETH) breaking through multiple resistance levels to test the psychologically significant $3,000 threshold. This upward movement mirrors Bitcoin's ongoing bull run while introducing several ETH-specific catalysts that warrant closer examination.
Institutional Adoption Accelerates Ethereum Momentum
Recent trading activity reveals substantial institutional participation in Ethereum markets. Spot ETH ETFs in the United States have recorded four consecutive days of positive flows, with Wednesday's $211 million influx contributing to a weekly total approaching half a billion dollars. Market analysts observe particularly robust activity in BlackRock's iShares Ethereum Trust, where trading volumes quadrupled average levels this week.
Parallel developments in corporate treasury strategies further bolster Ethereum's fundamentals. Multiple Nasdaq-listed firms have disclosed plans to allocate portions of their treasury reserves to ETH, collectively representing over $1 billion in potential buying pressure. This institutional interest coincides with regulatory clarity surrounding stablecoin legislation, where Ethereum maintains dominant market share.
Technical Indicators Paint Bullish Picture
From a chart perspective, Ethereum has completed a significant technical pattern by breaking above the $2,850 resistance level that previously capped price action since early February. The symmetrical triangle breakout suggests measured move targets near $3,200, though traders should monitor key indicators for potential overextension signals.
Market data reveals substantial futures market activity accompanying this price movement, with over $200 million in short positions liquidated during the rally. While momentum indicators like the RSI currently reside in overbought territory, the sustained buying pressure suggests any pullbacks may represent consolidation rather than trend reversal.
Critical support now resides at the $2,850 breakout level, with secondary support near $2,500 should broader market conditions shift. The $3,000 psychological barrier represents immediate resistance, with successful consolidation above this level potentially opening the path toward higher timeframe targets.
